Savings

Moneybox – Moneybox Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Moneybox has increased the rate on its Moneybox Cash ISA. The deal maintains the market-leading position when compared against its peers. It now pays an attractive 5.17%, which includes a bonus of 0.45% for the first 12 months, so savers would be wise to review after this period. Savers looking for flexibility and instant access to their savings pots may find this an enticing option as withdrawals and further additions are permitted; however, savers should note that only three withdrawals can be made per year before a lower rate is paid. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 5.17% gross / 5.17% AER payable on anniversary (includes a 0.45% bonus for 12 months)
• Notice / term: None
• Minimum opening amount: £500
• Maximum investment amount: ISA allowance
• Access: Permitted. Lower rate paid if more than three withdrawals made per year
• Further additions: Permitted
• Transfers in: Permitted. Accepts Cash, Stocks and Shares, Help to Buy, Lifetime, Cash LISAs, Stock and Shares LISAs, and Innovative Finance ISAs
• Transfers out: Permitted
• Opening account: Via mobile app
• Managing account: Via mobile app
• Other information: Minimum applicant age 18.

Furness Building Society – Double Access Saver (Issue 1)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Furness Building Society has launched a new Double Access Saver account this week. The deal takes a competitive position within the easy access market paying a rate of 4.90% yearly. However, it is important savers note that this deal provides limited access to their pots, as only two withdrawals are permitted each year, and any additional withdrawals will result in the account transferring to an access account, so it is crucial savers plan carefully on the outset. On a more positive note, further additions are permitted. Overall, the deal receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.90% gross / 4.90% AER payable yearly
• Notice / term: None
• Minimum opening amount: £1
• Maximum investment amount: £250,000
• Access: Permitted, up to two penalty free withdrawals per annum, further withdrawals result in account transferring to an access account
• Further additions: Permitted
• Opening account: Online, phone, in branch, and via mobile app
• Managing account: Online, by phone, by post, in branch and via mobile app
• Other information: Minimum applicant age 18. Internet and mobile app opening and operating not available to under 18’s. Cannot be held in joint names if opened and operated via internet or mobile.

Atom Bank – 1 Year Fixed Saver

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Atom Bank has increased the rates on a selection of its Fixed Savers, including its one-year fixed option. The account pays among one of the highest rates for its term, paying 4.80% on the account’s anniversary. It only requires a minimum investment of £50, making it accessible to many savers, and there is also a monthly interest option for those looking to supplement their income. It is important investors are comfortable with locking up their cash as earlier access is not permitted; however, further additions can be made for a week from the account opening. On assessment, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.80% gross / 4.80% AER payable on anniversary / monthly interest option of 4.70% gross / 4.80% AER also available
• Notice / term: One year
• Minimum opening amount: £50
• Maximum investment amount: £100,000
• Access: Not permitted
• Further additions: Permitted for one week from account opening
• Opening account: Via its mobile app
• Managing account: Via its mobile app
• Other information: Minimum applicant age 18.

United Trust Bank – UTB 2 Year Bond

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, United Trust Bank has increased the rate on its UTB 2 Year Bond, now paying 4.62%. The account grabs a competitive position within the fixed rate market for its term. Savers must have a minimum investment of £5,000, however, it would be wise to note that earlier access and further additions are not permitted, so investors may need to ensure they are happy with their initial deposit. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.62% gross / 4.62% AER payable on its anniversary
• Notice / term: Two-year bond
• Minimum opening amount: £5,000
• Maximum investment amount: £1 million
• Access: Not permitted
• Further additions: Not permitted
• Opening account: Online
• Managing account: Online, by phone, and by post
• Other information: Minimum applicant age 18. Joint account option available.

Shawbrook Bank – 1 Year Fixed Rate Cash ISA Bond Issue 110

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Shawbrook Bank has reduced the rate on its one-year fixed rate cash ISA option this week to 4.47% gross on maturity, improving its overall appeal. Unlike some of its peers, this deal also offers a monthly interest option, which pays 4.38% gross. This account may be an attractive option for savers wishing to lock into a guaranteed rate for the shorter term and maximise their ISA allowance. However, savers should note that although earlier access is permitted, they will be met with a 90-day loss of interest penalty. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.47% gross / 4.47% AER payable on maturity / monthly interest option of 4.38% gross / 4.47% AER also available
• Notice / term: One year
• Minimum opening amount: £1,000
• Maximum investment amount: ISA allowance
• Access: Permitted, subject to 90-day loss of interest penalty
• Further additions: Permitted
• Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
• Transfers out: Permitted, subject to 90-day loss of interest penalty
• Opening account: Online
• Managing account: Online and by phone
• Other information: Minimum applicant age 18.

Mortgages

first direct – Two-year fixed rate mortgage, 85% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“first direct has made increases and reductions to selected fixed rates within its range this week. For house purchase customers, the two-year deal at 85% loan-to-value has seen a small increase of 0.05% and is now priced at 4.54%. Borrowers may be glad to see that this deal charges a smaller than average fee of £490 and comes with an attractive incentive package which includes a free valuation, which may be ideal for those looking to save on the upfront cost of their mortgage. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.54% fixed rate for two years
• Product fee: £490
• Maximum loan-to-value: 85%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

Banking

Santander – Everyday Current Account

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Santander has introduced a generous £150 cashback incentive on its Everyday Current Account for customers who switch using the Current Account Switch Service (CASS), boosting its overall appeal. Although the account does not offer any interest on credit balances, consumers may be glad to see that there is an overdraft facility, and it also does not charge a monthly fee. Consumers also can sign up to Santander Boosts and receive cashback, vouchers, offers and prize draws. On balance, the account earns an Excellent Moneyfacts product rating.”

Key product details:

• Credit interest / reward: None
• Account fee: None
• Arranged overdraft: 39.94% EAR. 0% for the first four months when switching.
• Opening account: Online, by phone, and in branch
• Managing account: Online, by phone, in branch, by post, in the post office and via its mobile app
• Other information: Minimum applicant age 18. Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers. Customer must be signed up to online and mobile banking to qualify. £150 free cash offer, using the Current Account Switch Service for new accounts provided at least £1,500 credited and two active direct debits within 60 days of request. Terms & Conditions apply.

Cards

HSBC – HSBC Balance Transfer Credit Card Visa

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“The latest update from HSBC sees an increase to the introductory 0% balance transfer term on its Balance Transfer Credit Card to 30 months. This term increase sees it take the leading position when compared against its peers and allows borrowers to pay off existing balances over a longer period. Adding to its appeal, borrowers can also benefit from three months’ interest free on purchases. As always, it is sensible for borrowers to ensure that this deal is suitable for their circumstances. On assessment, the card earns an Outstanding Moneyfacts product rating.”

Key product details:

• Introductory rate for purchases: 0% for 3 months
• Introductory rate for balance transfers: 0% for 30 months
• Standard rate for purchases: 24.9% APR
• Balance transfer fee: 3.49%, minimum £5 fee, as an introductory charge during the first two months from account opening, standard balance transfer fee is quoted on application
• Card fee: None
• Opening method: Online, by phone and in branch
• Card management: Online, by phone, in branch, by post and via its mobile app
• Other information: Minimum age 18. Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Rates dependent on credit rating.